NEW YORK: Oil prices steadied on Thursday after hitting a seven-week high in the previous session as Russia moved to restrict fuel exports until the end of the year, but the gains were limited by new US economic data that tempered optimism around further interest rate cuts.
Brent futures settled 11 cents, or 0.16%, higher at US$69.42 a barrel while US West Texas Intermediate futures lost 1 cent, or 0.02%, to US$64.98.
Both benchmarks gained 2.5% on Wednesday to reach their highest since August 1, driven by a surprise drop in US weekly crude inventories and concerns that Ukraine's attacks on Russia's energy infrastructure could disrupt supplies.
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